BUKUKAS, a digital ledger app for micro small and medium enterprises (MSMEs), has raised US$9 million in a pre-Series A round to expand its product offering and build market share in Indonesia. Read more at The Business Times.
Krishnan Menon, its chief executive and co-founder, said: “The speed at which BukuKas has grown in the last eight months since launch has shown us that more than ever, Indonesian small businesses are ready to go digital. Seventy-three per cent of merchants are outside of tier-one cities today – and very few products and services are built for them. BukuKas is committed to reaching them, as they are the real Indonesia, the spine of our economy.
The firm is committed to becoming a “one-stop-shop” for small businesses to manage their financial and business operations, and hopes to give business owners an “unprecedented degree of visibility, control and convenience”, it said. Christopher Zemina, principal at Speedinvest, one of the early investors in European neo-banking unicorn N26, said: ”At Speedinvest, we focus a lot on innovative fintech startups that solve the problem of financial inclusion, at scale, across the globe. We are super excited by BukuKas’ vision, early traction and execution by a very strong and driven team.”For daily updates on weekdays and specially selected content for the weekend.
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